A Rhode Island durable power of attorney allows an agent to represent another person and execute financial transactions on their behalf. The party being represented, known as the “principal,” authorizes the agent to perform duties that typically involve banking institutions, real estate, taxes, business operations, and insurance or retirement benefits. Any rights granted through the power of attorney will not be affected by the mental incapacity of the principal.
Agent’s Duties – Not mentioned in state statutes.
Signing Requirements (§ 18-16-2(b)) – Notary Public
Statutory Form – § 18-16-2